Review Of Literature On Financial Performance

However, La & Choi (2012) posited that there exists a weak relationship between risk management and a firm’s financial performance.

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This study aims to answer three research questions: (i) What is the intellectual core of the field?

(ii) Which techniques are used in the financial sector for textual mining, especially in the era of the Internet, big data, and social media?

Retno & Denies (2012) argued that a company with better profits are engaged into smaller revenue generation with little efforts in risk management structures, hence a negative link between risk management and performance. (2013) found a negative and significant effect between risk management and return on equity, resulting in a weak relationship between the two.

Kiragu (2014) could not clearly assert on the effect of risk reduction on firm’s financial performance.

Ernst & Young revealed that firms with a reputable risk reduction practices produce more revenue and their risk maturity linked with better return on assets and a positive significance on financial performance.

A study by La & Choi (2012) proved that the effect of risk management has a positive significant relationship with the organizational performance.Recent research and practice indicate that such information can be interesting for the decision-making process.Questions about how and to what extent research on data mining in the financial sector has developed and which tools are used for these purposes remains largely unexplored.Reviews of Auditor General (2014-2016) reflected that there are no corrective measures taken in the MHTESTD to reduce risks as the findings are still recurring.The PAC (2015) also supported that lack of risk reduction has been evidenced by the recurring of observations every year. (2012), most of the empirical studies on the effects of risk management on performance had been done mostly in developed countries and in insurance companies in Kenya. (2016) observed that organizational performance begins with supplying customers with distinct goods and services, attending to their queries consumer time saving. (2013) noted a positive and significant relationship between customer satisfaction and financial performance. (2016) supported that the firm should make customers happy and keep faithfulness to them as this practice increase the firm’s performance.However, National Education Training Fund lost USD$ 3.5 million to acquit Cadetship grants.AG’s report of 2015 observed that Ministry of Higher and Tertiary Education lost about USD$ 1.8 million to dummy receipting in polytechnics and teacher’s college.The Auditor General (AG) of 2015 also reported that out of unsupported payments incurred were losses ranging from USD$ 3 million to USD$ 3.5 million.Innovation and Commercialization Fund (ICF) lost amount of USD$ 2.5 million owed to debtors through borrowings.They explained that risk reduction practices significantly improve the return on assets of the firm. (2012) in support confirmed that reducing exposed risk increases the quality of service as well as the firm’s financial performance.They added that risk mitigation and financial performance has a positive relationship.


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